The Brazil international has enjoyed his time in the Magpies' engine room since joining from Ligue 1 club Lyon in January 2022, helping Eddie Howe's side to secure Champions League football this season.
Guimaraes appeared and started in 32 Premier League matches for Newcastle last campaign as they achieved an impressive fourth-placed standing, finishing behind only Manchester City, Arsenal and Manchester United in the English top flight.
The 25-year-old has made 61 appearances for the North-East giants since joining from Lyon at the start of 2022, scoring 10 goals over an 18-month period.
According to 90min, Premier League big spenders Manchester City and Chelsea both made enquiries for Guimaraes during this summer's transfer window.
The report claims that although there was interest in the midfielder from clubs in England and around Europe, Newcastle had no intention of selling the Brazilian.
It is understood that Pep Guardiola's Citizens and Mauricio Pochettino's Blues did not get close to securing the services of Guimaraes, who the Mapgies are hoping will now commit his long-term future to the club.
Howe's side are said to have commenced discussions regarding a new contract with the 25-year-old at the end of 2022, however the player was unwilling to put pen to paper at that stage.
It is now believed that Guimaraes is on the verge of agreeing fresh terms with Newcastle, signing a deal which would keep him contracted at St James' Park until 2028 — two years more than his current arrangement.
Such developments will be bad news for those of a Man City or Chelsea
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